I personally started doing Roth conversions last year as it made the most sense given my situation. I'm 54, retired and my income is low. To avoid a large tax hit at 70 due to RMD's and SS I now do conversions to the top of the 12% bracket so it was a relatively easy decision.
I'm asking today about my significant other. She is 41 years old, still working making ~$110 K so that puts her in the 24% bracket. She has option for a Roth 401K and also has a taxable IRA out of work of about 500K. Does it make sense for her to start doing Roth conversions for her 401K and then also doing Roth conversions for her regular IRA as well? Any advice or thoughts appreciated.Thank you.
I'm asking today about my significant other. She is 41 years old, still working making ~$110 K so that puts her in the 24% bracket. She has option for a Roth 401K and also has a taxable IRA out of work of about 500K. Does it make sense for her to start doing Roth conversions for her 401K and then also doing Roth conversions for her regular IRA as well? Any advice or thoughts appreciated.Thank you.